Melanoma Drugs Global Market Report 2023
Major players in the melanoma drugs market are Amgen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Janssen Biotech Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Genentech, Inc.
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Melanoma Drugs Global Market Report 2023" - https://www.reportlinker.com/p06486563/?utm_source=GNW , Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., AbbVie Inc., Aptose Biosciences Inc., and Bayer AG.The global melanoma drugs market is expected to grow from $7.36 billion in 2022 to $8.27 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The melanoma drugs market is expected to reach $12.5 billion in 2027 at a CAGR of 11%.The melanoma drug market consists of sales of pembrolizumab, nivolumab, vemurafenib, avelumab, and dabrafenib with trametinib drugs used for the treatment of melanoma.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Melanoma drug refers to a drug used for the medication of skin cancer that develops in the cells that produce melanin, the pigment responsible for the color of the skin, hair, and eyes. Melanoma drugs are used to treat melanoma that aims to target and inhibit the growth and spread of melanoma cells in the body.North America was the largest region in the melanoma drugs market in 2022. The regions covered in melanoma drugs report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main therapies of melanoma drugs are chemotherapy, immunotherapy, and targeted therapy.Chemotherapy is a medical treatment that involves the use of drugs to destroy or inhibit the growth of cancer cells.It is one of the primary treatment options for cancer and is typically used in combination with other therapies such as surgery and radiation therapy. The melanoma drugs are used for treating superficial spreading melanoma, lentigo maligna, acral lentiginous melanoma, and nodular melanoma in hospitals, outpatient oncologist clinics, and others.The increase in the incidence of melanoma in males is expected to propel the growth of the melanoma drug market over the coming years.Melanoma is a type of skin cancer developed in the cells (melanocytes) that regulate the pigment in the skin.Melanoma drugs are medications used to treat melanoma, and these drugs aim to target and inhibit the growth and spread of melanoma cells in the body.Hence the increasing incidence of melanoma will increase the demand for melanoma drugs market.For instance, in 2023, according to the report published by the American Cancer Society, Inc, a US-based nationwide voluntary health organization dedicated to eliminating cancer, new male individuals suffering from melanoma in the United States increased to 58,120 in 2023 from 57,180 in 2022. Therefore, an increase in incidences of melanoma in males is driving the growth of the melanoma drug market.Product innovation is a key trend gaining popularity in the melanoma drugs market.Major companies operating in the melanoma drugs markets are focused on developing innovative solutions to strengthen their position in the market.For instance, in March 2022, U.S. Food and Drug Administration (FDA), a US-based federal agency, approved Opdualag, a fixed-dose combination of the LAG-3-blocking antibody relatlimab and the programmed death receptor-1 blocking antibody nivolumab, developed by Bristol-Myers Squibb Company, a US-based pharmaceutical company for the treatment of melanoma in adult and pediatric patients. Relatilmab and nivolumab, two antibodies that block the programmed death receptor-1 and LAG-3, are combined as Opdualag at a fixed dose. Adult and adolescent patients 12 years of age and older who weigh at least 40 kg are advised to take 480 mg of nivolumab and 160 mg of relatlimab intravenously every four weeks until the onset of disease progression or unacceptable toxicity.In May 2022, Regeneron Pharmaceuticals Inc, a US-based biotechnology company, acquired Checkmate Pharmaceuticals Inc for $250 million.This acquisition aims to expand the Regeneron Pharmaceuticals Inc pipeline portfolio of immuno-oncology drugs and give a new modality to Regeneron Pharmaceuticals Inc to treat difficult-to-treat cancers.Checkmate Pharmaceuticals, Inc is a US-based biopharmaceutical business that offers mutant metastatic melanoma.The countries covered in the melanoma drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The melanoma drugs market research report is one of a series of new reports that provides melanoma drugs market statistics, including melanoma drugs industry global market size, regional shares, competitors with a melanoma drugs market share, detailed melanoma drugs market segments, market trends, and opportunities, and any further data you may need to thrive in the melanoma drugs industry. This melanoma drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06486563/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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